spainwatch

Spain through the looking glass

Twenty-five per cent and counting

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This weekend the clocks went back an hour in Spain but with the country’s latest jobless figures showing official unemployment is now at 25.02% per cent, many people must be wishing they could turn back time a lot further.

On Friday, Spain’s national statistics institute revealed that 85,000 people aged 16 and over had joined the ranks of the jobless in the third quarter of this year. That means that 5.778.100 people will be on benefits as winter rolls in.

Meanwhile, the total figure for people in some form of active employment fell by 96,000 from July to September to stand at 17,320,000; This is the lowest level since 2003 and also means that 3.2 million Spanish people have lost their jobs since this country’s figures for active employment hit an all-time high back of 20.5 million back in 2007.

One of the most striking features of Spain’s July–September figures jobless is that the public sector is now shedding jobs as quickly as its private counterpart. By the end of the Q3, there were 47,600 fewer private sector jobs against a figure of 49,400 for the public sector.

The other key news is that Spain’s economy lost 179,400 permanent jobs, or empleo fijo, in the period covered by the latest national survey. And while the number of people in full-time work edged upwards to the tune of 14,800, this was offset by a drop of 111.800 in people working part time.

On a sector-by-sector basis, the construction industry continues to suffer heavily with the sector losing 56,100 jobs in Q3. There are now 32,700 fewer posts in the service industries and 11,900 fewer jobs in agriculture. Only the industrial sector saw marginal gains with 11,900 new positions being created.

In the last 12 months, the job situation has hit men harder than woman (565.500 fewer jobs for men against 270.400 for women). However, the last three months have seen 75,000 women lose their jobs against only 75,000. The unemployment rate for women is now 25.41 per cent while for the male counterparts it stands at 24.68 per cent.

In Q3 2012, the unemployment rate among foreigners reached 34.84% while the rate for Spaniards was 23.32%. The youth jobless rate, while ever so slightly down on Q2 figures, is still a staggeringly high 52.34%.

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Written by georgemills25

October 29, 2012 at 09:03

Posted in business, crisis, News, society, Spain

Tagged with ,

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